News

LUXURY LIVING PLANNED FOR PANTHERS SITE

05.11.18

The Panthers’ $500m village moves ahead

ESQ1818 Submits Development Application for Stages 2 and 3 A development application for stage two and three of ESQ 1818 has been lodged to Penrith Council for approval. A total of four residential buildings ranging from four to five storeys as well as one mixed use residential building with about 1225 sqm of retail space are the second and third stage of the development. The entire project, which includes fives stages of construction, will cover a 6.5 hectare footprint on the Panthers precinct and feature a lakeside promenade as well as landscaped space, shopping and restaurants a stone’s throw from the Nepean River. Penrith based property developer Astina Group has been awarded the mammoth task of building ESQ. “We have been impressed with what we have seen with Astina and the fact that they are local was icing on the cake,” CABE chief executive Andrew James said. Astina has recently built projects such as Home on High and East Bank and builder William Schrumpf welcomed the new project. “We are extremely excited to be teaming up with CABE to deliver ESQ,” Mr Schrumpf said.

02.11.18

Setting Records in Penrith

Western Weekender Penrith Penrith’s newest property development, CABE’s East Side Quarter (ESQ) broke ground ahead of schedule last month due to outstanding sales success. The $500 million development next to Penrith Panthers also announced the appointment of local builder Astina Group. With stage one of the project already 77 per cent sold, the development is outperforming all other projects in western Sydney and broader Sydney, according to agents, Colliers International and PRD Penrith. “ESQ’s sales success is a result of the strong Penrith community support for the project, with locals drawn to its lifestyle offering and vibrant urban village setting,” CABE CEO Andrew James said. “It has appealed to all buyers from downsizers, to investors and first home buyers who understand the uniqueness of the site and its offering with running tracks, lakeside dining, wine bars, entertainment, high quality apartments and landscaped areas that would cover 10 football fields.” A record apartment price for Penrith of $950,000 was achieved with the sale of a penthouse style, three bedroom apartment. Director of Residential Project Marketing of Colliers International, Blake Schultze said most purchasers have come from the local Penrith area or the Blue Mountains. “Buyers have been motivated to snap up an apartment as they understand the strong growth potential of Penrith and the western Sydney economy,” he said. The appointment of Astina Group is great news for the local economy with the full amount of Penrith’s trusted tradespeople employed to complete the development. “As we are family owned, operated and residing in Penrith, being part of such a major project for not only Penrith but western Sydney means a lot to us,” Co-founder of Astina Group, William Schrumpf said. “We’re proud to be a part of delivering a new lifestyle for our growing community and look forward to exceeding their expectations.” The stage two release is scheduled for February 2019. Visit www.esqpenrith.com.au. – Nicola Barton

01.11.18

Astina Group awarded contract to build ESQ Stage One

Local Penrith builder Astina Group has been awarded the contract to build all 152 apartments in Stage One of the East Side Quarter urban village development next to Panthers. Construction has now commenced.

01.10.18

60% Sold Before Launch

Western Sydney Business Access, Parramatta, General News CABE has sold more than 60% of Stage One of its $500m East Side Quarter development in Penrith before the official launch. The 6.5ha urban village is adjacent to Penrith Leagues Club and the sales included a record for Penrith when a $950,000 three-bedroom penthouse was bought off the plan.

14.08.18

Presales Success for CABE’s East Side Quarter in Penrith

CABE’s $500 million lakeside development in Penrith, East Side Quarter (ESQ), has sold more than 60 per cent of stage 1 prior to their official launch. The 6.5-hectare urban village located at the foothills of the Blue Mountains and the doorstep of Penrith Panthers’ entertainment precinct offers benchmark design and postcard views designed from the ground up to meet the needs and desires of a new generation. “A record apartment price for Penrith of $950,000 was achieved with the sale of a penthouse style, 3 bedroom apartment,” Colliers International residential project director Blake Schulze said. “Buyers were motivated to snap up an apartment as they understand the strong growth potential of Penrith and the Western Sydney economy.” Penrith is currently reshaping its future as the heart of the New West. Multi-billion-dollar infrastructure projects such as Badgery Creek are forging stronger connections to wider Sydney and building a vibrant, activated city centre. Dynamic inner-city lifestyles, growing entertainment and enterprise hubs, a second Sydney airport, significant upgrades to university and hospitals, major road networks and more are creating a blueprint for the future that is placing Penrith firmly on the global map. “East Side Quarter appeals to all buyers from downsizers, to investors and first home buyers with oversized 1 bedroom apartments starting at $410,000,” Schulze said. “The strong buyer demand has been from the local market, with buyers quick to secure their apartments due to the urban community that ESQ offers with the connection to the Panthers Precinct,“ PRD Nationwide Penrith managing director Darren Latty said. “The sales success is a true testament to CABE’s development vision and the Turner Architects’ design, appealing to owner occupiers with a strong uptake from downsizers,” he added. As Penrith’s most visionary and bold new precinct, ESQ offers an all-encompassing lifestyle and residential quarter that will excite, involve and engage on multiple levels. Architecture firm Turner is creating transformational spaces of a type and scale never before seen. The masterplan for 850 one, two and three bedroom apartments maximises amenity for residents both inside and out. The vision is for a whole new urban experience that draws strength from a charismatic relationship between nature, its built form and multi-layered public and private spaces. ESQ’s Sales Display Gallery is located on Retreat Drive, Penrith. Open from 11am to 4pm, Wednesday to Sunday, or via Private Appointment 1300 181818 www.esqpenrith.com.au https://theurbandeveloper.com/articles/presales-success-for-cabes-east-side-quarter-in-penrith

07.08.18

Market News

07.08.18

Selling Like Hot Cakes

PENRITH Apartments more than half have pre-sold APARTMENTS in a major residential development set to transform Penrith are selling like hot cakes – even though they haven’t hit the market yet. These off-the-plan units will form a monumental $500 million project known as East Side Quarter, which will see 11 buildings sprout in Retreat Ave, ranging from four to 15 storeys. In addition to panoramic views of the Blue Mountains, the new estate will offer a resort-style pool deck, play areas for children and a retail laneway. Neighbouring the East Side Quarter site is the Penrith Panthers Leagues Club and entertainment precinct. For this reason, the idea was pitched to the Panthers board and has since been welcomed, according to Andrew James, chief executive of developer CABE. Mr James said all club members were offered an early chance to snap up stage one’s 152 units. “We have gone out to them over the past week and in that time we have had over 50 per cent of the apartments pre-sold. The local market has been crying out for this level of development,” he said. “There has been a healthy mix of buyers but downsizers have certainly shown strong interest.” The units are a mix of one-, two- and three-bedroom designs and start at $400,000. When finished, ESQ will span more than 6.5ha. There will be 850 units and 3500 sqm of retail. There will also be a lakefront dining precinct, wellness centre and regional play areas. The units will officially hit the market next month. Caption Text: East Side Quarter is a monumental $500 million residential project coming to the heart of Penrith.

07.08.18

Sky High Revolution- East Side Quarter, Retreat Drive Penrith

EAST SIDE QUARTER Retreat Drive, Penrith MARISSA GEORGOPOULOS WESTERN Sydney hub Penrith is due for its biggest transformation yet – a $500 million residential development that will push the suburb to new heights. The monumental new estate known as East Side Quarter will include 11 buildings ranging from four to 15 storeys and offer panoramic Blue Mountains views, a resort-style pool deck, play areas for kids and a retail laneway. The estate will also have a lakefront dining precinct, wellness retreat and regional play spaces. The first luxury apartments will hit the market next month. Telegraph the project was the culmination of long-time planning. “We’re very excited to finally put it out to the public,” Mr James said. “All up, it is 850 apartments, 3500sqm of retail, and it will be what we’re calling the first urban village of Western Sydney as it spans more than 6.5ha. Over half the site is landscape.” Neighbouring the site is the Penrith Panthers Leagues Club. Mr James said the proposal was welcomed by the Panthers board. Club members have been offered an early chance to buy into the 152 units being made available in the project’s first release in July. “We have gone out to them over the past week and in that time we have had over 50 per cent of the apartments pre-sold. This shows the local market has been crying out for this level of development. “There has been a healthy mix of buyers but downsizers have certainly shown strong interest.” Each apartment will have at least one car space. The one-bedders start from $400,000. Two-bedroom units are upwards of $550,000. The threebedders are priced from $700,000. Architects Turner will incorporate stone benchtops, porcelain floor tiles and mirrored splashbacks in kitchens and bathrooms. Construction of the first two buildings will start this year, with doors set to open to residents in 2020. Visit esqpenrith.com.au Caption Text: The $500 million project known as East Side Quarter will transform Penrith with 11 buildings, 850 units and about 3500sqm of retail space. https://www.news.com.au/finance/real-estate/penrith-to-be-transformed-with-500m-development/news-story/f7a405c9e45536011e0a2f4f9adabd60

07.08.18

New $500 million East Side Quarter project the latest in unprecedented development for Penrith

TAWAR RAZAGHI JUN 21, 2018 The once-overlooked suburb of Penrith on Sydney’s outskirts is steamrolling ahead with unprecedented development in the face of a major population growth spurt and its new future as one of Sydney’s most important town centres. For years it was just the last suburb Sydneysiders would bypass on their way to the Blue Mountains, but with the promise of a major airport a stone’s throw away, construction workers are already in overdrive preparing for the city’s new trajectory. The suburb has already started to evolve over the years with disillusioned Sydneysiders heading to Penrith in search of better value housing. In Penrith the median house price is $650,000, almost half that of Sydney’s overall median, $1,150,357. Despite being 60 kilometres west of Sydney’s CBD, the main street of Penrith is now booming, according to Penrith Mayor John Thain. “There’s a restaurant or cafe opening up every second week. You can see the vibrancy and it’s lifting the night economy,” Cr Thain said. It’s a far cry from its rural beginnings – Penrith has gone from being a farm on Sydney’s outskirts to a hardscrabble of suburbs to a city in its own right. Residential projects, particularly house and land packages, are not new in Penrith, but more medium-density and high-density mixed-use precincts with apartments are luring new types of buyers to Penrith and changing the town’s fabric. “It’ll give our young people the opportunity to actually stay in the area they grew up in. But it’ll certainly bring more people in. They want to have lifestyle choice … whether it’s a unit, townhouse or a 400 square block,” he said. A new $500 million project planned for the banks of the Nepean River will be a litmus test for demand in the region for high-density city-style living. It’s one of the biggest residential projects Penrith has seen and has been touted by those marketing the project as a “visionary new community”. The East Side Quarter “village” will be a mixed-use development with 850 apartments next to the Penrith Panthers’ Entertainment Precinct. David Borger, Western Sydney director of the Sydney Business Chamber, said Penrith was in the process of getting a major facelift. There’s a sense of optimism and it’s inevitable that it’s going to happen. Its future is rosier than its past,” Mr Borger said. “Penrith still has blue skies, wide-open spaces and wonderful nature at its doorsteps and people are attracted to that environment.” Young people can see the value and affordability of a place like Penrith, Mr Borger said. “There is a draw for young people to live in more affordable locations as well as local families who are doing well and want to go to a different community and migrant Sydney will be moving westwards as well,” he said. Despite much lower property prices in Penrith, the suburb isn’t immune to Sydney’s affordability crisis. Almost a quarter of Penrith tenants are in rental stress, according to the latest census data, and there’s a wait of more than a decade for social housing. One community housing provider said that while development is booming, there needs to be consideration of affordable housing options. Alongside new residential projects, change is also afoot with several infrastructure developments. Mr Borger said Badgerys Creek airport, which is 20 kilometres away, Sydney Science Park and the Northern Gateway development by BHL are “mega mixed-use projects” that will change the landscape in the region entirely. And the mayor said Penrith is ready to live up to the hype of all the record investment and population of about one million people in Western Sydney by 2036, up from 740,000 in 2016. “That’s twice the population of Canberra or three times the population of Newcastle. We’ve got to accommodate that [growth] across eight councils. Western Sydney’s time has come,” he said. There were less than half a dozen submissions raising traffic concerns around the ESQ development but councillor Thain said a number of parking lots would be built in time to prevent those issues from arising. https://www.domain.com.au/news/new-500-million-east-side-quarter-project-the-latest-in-unprecedented-development-for-penrith-20180620-h11m0k-440839/

21.12.17

Design details have been unveiled for the Western Sydney Community and Conference Centre

Design details have been unveiled for the Western Sydney Community and Conference Centre which will form part of the Panthers Group’s transformation of the Penrith Panthers precinct. A staged concept proposal prepared by Turner Architects has been lodged with Penrith City Council for a community facility, conference centre, exhibition centre, hotel, retail premises and serviced apartments. The first stage of the proposal provides a community centre, conference facility and new civic domain to deliver “a destination for connecting, engaging, learning and entertainment for the residents of Western Sydney and beyond.” This is supplemented with landscaping and public domain improvements along Ransley Street, Panthers Link and Mulgoa Road and a secured, weather-protected basement carpark. The estimated cost of works is estimated at $30 million. The community centre will be located on an existing car park site and help revitalise the Riverlink Precinct as a key entertainment and recreation destination. A flexible conference facility would be capable of seating up to 1000 people or hosting a number of smaller functions. To the west of the site lies the Panthers Club and I-Fly recreation facility, the ESQ1818 residential development to the north, existing fast food outlets to the south and Panthers training field and stadium across Mulgoa Road to the east. Stage 2 will include a hotel and retail premises at the gateway to the precinct, adjacent to Ransley Street. Stage 3 includes a serviced apartment building with flexible exhibition space to complement the conference centre facility. Former Penrith Rugby League player turned property developer Lou Zivanovic received development approval earlier this yearfor the first stage of his $500 million residential development known as ESQ1818. Zivanovic’s flagship company, CABE, submitted the proposal, which will deliver 850 apartments. New Penrith hospital The News South Wales state government has placed spending on infrastructure including health in western Sydney as part of a move designed to fend off criticisms of commitment to fund sporting stadiums. The government has pledged $1 billion to redevelop the existing Nepean Hospital complex in Penrith as part of an “unprecedented” $5 billion investment in Western Sydney hospitals. View the full article here.

21.12.17

Luxury living planned for Panthers site

A new urban lifestyle village is coming to Penrith with ESQ 1818, the residential quarter of the Penrith Panthers’ Entertainment Precinct, receiving approval for stage one of its $500 million development. The development from Sydney developer CABE will feature 850 apartments plus retail, lake frontage, communal spaces and landscaped boulevards, nature walks and running tracks. CABE CEO Andrew James said it will be the first of its kind for western Sydney. “ESQ 1818 will become the residential quarter of the Penrith Panthers’ Entertainment Precinct,” he said. “East Side Quarter references the site location East of the Nepean River and East Side of the Lakefront and Penrith Panthers – creating an important lifestyle activation and connection into the town centre and Riverwalk Link. “The project will create a vibrant urban village on the door steps of the Penrith Panthers’ Entertainment hub.” Mr James said the new development would be of international standard. “ESQ 1818 will offer world class amenities, from the retail and lake frontage to the communal spaces, landscaped boulevards, nature walks and running tracks,” he said. Maintaining space between the buildings means views of the lake and Blue Mountains was essential for the development, with 50 per cent of the site allocated to landscaping, creating a green oasis for residents and the broader public. “The Blue Mountains is a Sydney icon,” Mr James said. “The natural attraction and fantastic backdrop is a direct visual connection to nature. It is our vision to create a village atmosphere bounded by parkland and landscaped boulevards. “Our landscape designers, Oculus, known for their work in both Barangaroo and the Central Park Development in Sydney, have been commissioned to realise this vision.” With one, two and three bedroom apartments on offer, the site will provide not only additional homes for the growing region, but a new vibrant and luxurious lifestyle currently missing from Penrith. “We believe space is the ultimate luxury,” Mr James said. “In addition to the amenities this project will deliver in the heart of Penrith’s entertainment precinct, we also have plans for a future eat street as well as resort-style living with wellness retreat, private club, dining and exclusive entertaining areas.” ESQ Stage One is scheduled to launch in the second quarter of 2018. Read the full article here.

21.12.17

ESQ 1818 Penrith gets the go ahead for stage 1

Award winning Sydney developer, CABE has just received DA approval for Stage 1 of its $500M ESQ 1818 (East Side Quarter) mixed-use development in Sydney’s Penrith. The 850-apartment master-planned development designed by the award-winning Turner Architects will feature retail, lake frontage, communal spaces and landscaped boulevards, nature walks and running tracks. Maintaining space between the buildings means views of the lake and Blue Mountains will never be built out. 50% of the site has also been allocated to landscaping, creating a green oasis for residents and the broader public. “We believe space is the ultimate luxury,” says CABE CEO, Andrew James. “In addition to the amenities this project will deliver in the heart of Penrith’s entertainment precinct, we also have plans for a future eat-street as well as resort-style living with wellness retreat, private club, dining and exclusive entertaining areas. This will be the first of its kind for Western Sydney.” “Our plans for this site meet the State Government’s vision to provide high-quality attainable housing with an array of amenities and employment opportunities near transport corridors,” he adds. “We’re looking forward to working closely with Penrith Council, community and all the precinct’s stakeholders to deliver this unparalleled mixed-use destination for Sydney’s booming West.” ESQ Stage 1 is scheduled to launch 2nd Quarter 2018. Registrations of interest are now available www.esqpenrith.com.au